LINC ENERGY LTD
Linc Produces First GTL Liquids at Chinchilla Site
LNC - Linc Signs Contract for Project in Vietnam - Mr Peter Bond, CEO
Tue, 14 Oct 2008 10:30AM
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Mr Peter Bond
Tue, 14 Oct 2008
10:30AM Australia/NSW
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LINC ENERGY LTD (LNC)
ASX code: LNC
Website: http://www.lincenergy.com.au/
Industry: Energy
Principal Activities:
Supplier of environmentally friendly power, diesel and jet fuels.
Address:
, 10 Eagle Street, Level 7,
BRISBANE
QLD
Phone: (07) 3229 0800
Fax: (07) 3229 6800
Executives & Directors
Mr Brian Johnson , Chairman, Non Exec. Director
Mr Peter Bond , Managing Director
Mr Ken Dark , Non Exec. Director
Mr Stephen Dumble , Chief Op. Officer
Mr Rob Stratford , CFO
Mr Craig Ricato , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
LINC ENERGY LTD (LNC) Events
Australia/NSW
LINC ENERGY LTD (LNC)
| Chinchilla GTL Demonstration Plant Update | Mon, 29 Jun 2009 |
| Appendix 3B | Mon, 29 Jun 2009 |
| Appendix 3B | Fri, 26 Jun 2009 |
| Company Update | Wed, 24 Jun 2009 |
| Trading Halt | Mon, 22 Jun 2009 |
| Change of Registered Office | Mon, 22 Jun 2009 |
| Galilee Basin Drilling Program (12/06/09) | Thu, 18 Jun 2009 |
| Update on Linc Energy`s Galilee Basin exploration program | Fri, 12 Jun 2009 |
| Appendix 3B | Mon, 25 May 2009 |
| Appendix 3B x 2 | Fri, 15 May 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH PETER BOND, CHIEF EXECUTIVE OFFICER OF LINC ENERGY LIMITED (LNC)
“Linc Produces First GTL Liquids at Chinchilla Site”
http://www.brr.com.au/event/52314
TUESDAY, OCTOBER 14, 2008, 11:30 AM.
BRR This morning we welcome Peter Bond, Chief Executive Officer of Linc Energy. Peter, thanks for joining us.
10 LNC My pleasure, Cameron.
BRR Peter, the business seems to be going from strength to strength at the moment with your announcement yesterday for signing another contract for a project in Vietnam. Can you tell us a little bit about this project and how it
15 came to Linc?
LNC Cameron, this is the project where Linc signed an MOU with Vinacomin from Vietnam some months ago. We’ve worked through a couple of stages to get to this point where we are now signing the (inaudible) (0:00:32) Contract -- what they call the (inaudible) (0:00:34) Contract, and that basically means
20 that Vietnam and our partner, Marubeni, will be paying for the trial in Vietnam, and on the basis that the trial is successful, we will move quickly to a light commercial UCG operation that’ll be producing power and then maybe later on gas-to-liquids. It’s a big step forward. It means we’ll be basically in production in Vietnam next year.
25
BRR Now Peter, what you’re doing in Vietnam is really a replica of what you’re doing in Australia, is that right?
LNC Well, it is. It is on the basis of the underground coal gasification only. We won’t be building a GTL plant over there or building any of the support
30 structure, but we will. But certainly it is in terms of the gasification as a trial.
BRR So Peter, there are a number of phases that you’ve outlined in your announcement. Give us an idea of what the first couple of phases involve and the timeframes.
35 LNC Well, with Vietnam, that’s based around us basically getting onto site. We’ve got to wait on Vietnam coming back with final approval for site location and there’s a small environmental report that has to be done by them, but that will just take its normal course. We’re basically aiming that by end of the first quarter next year, we’ll be on site, and by the end of the second quarter, we’ll
40 be constructing and then probably three to four months later producing.
BRR What about human resources? Will you move some of your men from Queensland across to Vietnam?
LNC No. Well, the answer is yes but we’ll only move one or two. We won’t be
45 moving a lot. The bulk of our local labourers will be sufficient for what we want. The engineering will be done out of Australia and the project management will be done in Australia with the relevant person on the ground, of course, and then probably the key manager over there and our key support person will be out of Australia. The rest will be local.
BRR Peter, as you’ve said in your announcement, the global applications, how far down the track are you in exploring other countries using UCG?
LNC We’re a long way down the track in terms of that. We’re talking with a lot of
5 countries and we’re doing a lot of work in North America, in China and a few places, so I think the trend you’re seeing is what we’ve had in Vietnam, and of course now on the back of our announcement today of producing liquids from the GTL plant, that announcement today will take the Company forward significantly on the back that now we can take a billion of tonnes of coal stuck
10 in the back of Vietnam or Queensland or South Australia and turn it into 1.5 billion barrels of oil. So it’s a significant change to the way we view emerging energy.
BRR Yes, I was going to get onto the other announcement made today which you
15 alluded to, your first gas-to-liquids at Chinchilla site. It’s obviously a huge milestone for the Company.
LNC Yes, it’s a massive milestone, as you can imagine. It’s what we’ve been working for the last couple of years. When you think about it, from first engineering to this event, it’s probably around two years and construction has
20 probably been less than a year. So, it’s actually been quite timely and it’s a great first result. It’s a great milestone for the Company, and indeed, the community at large.
BRR Peter, I probably asked you this question before, but when do you expect to
25 see some significant cash flows from Chinchilla?
LNC Look, it’s going to take about probably 12 months before we can break the ground on a commercial facility, and on the back of that, it takes about two years to construct the facility. So, depending on what we do in other parts of the world, which of course we’ll probably produce some earlier cash flow
30 timelines, but I guess it’d be two to three years before we can start to see the significant cash flows and I think 24 to 36 months is probably a reasonable horizon.
BRR Well, it’s an exciting project. It’s been a good ride for your shareholders, that’s
35 for sure. So, if our listeners would like to ask you a question, by all means, forward it through to us at brr@brr.com.au and we’ll forward them on to Peter for an answer at a later stage. Peter, thanks for your time. Good luck and we look forward to speaking with you soon.
LNC Thanks, Cameron. I appreciate the call.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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